Today's Gold trade produced another ALL-TIME HIGH as traders anticipated a no change approach in respect to the FOMC meeting and a rate adjustment. The (COMEX) day session traded $1095.00 (all-time high) as the Globex market traded as high as 1096.50... (all-time high)... In the wake of India's Central Bank purchasing 200 metric tons of Gold Bullion from the IMF (largest purchase by a Central Bank in 30 years) translates that the worlds largest consumer of Gold is lacking confidence in the U.S Dollar and concerns about pending inflation. This also should indicate that GOLD is the IMPERIAL Currency. We gold Bugs know that technically the gold market is over-bought. However with the continued erratic weakness of the U.S Dollar, Hedge Funds pushing the precious metals higher, possible 10% unemployment (we'll find out tomorrow), and the reality of inflation on the horizon just to name a few gives us no other alternative but to buy the precious metals. Many analysts feel Gold is still under valued versus the inflationary projection. We took profits on the February 1080/1100

BULL /CALL SPREADS today.

COMEX...  HIGH.... $1095.00   LOW...$1087.00   CLOSE...$1087.50

GLOBEX...HIGH......$1096.50   LOW...$1080.50 (as of this posting)

REPORTS: 11/04

EXPORT SALES........7:30 am (CST)

JOBLESS CLAIMS..... 7:30 am (CST) ***********

The following are my swing numbers for 11/04...Thursday...

                    (DECEMBER GOLD)

RESISTANCE # 2..........$1098.00

RESISTANCE # 1..........$1093.00

PIVOT.........................$1090.00

SUPPORT #1...............$1085.00

SUPPORT # 2.............. $1082.00

Mike Daly / Gold Specialist

PFG BEST